Sherri Shepherd Leaving The View

The co-host made the announcement on Thursday night, shortly before Jenny McCarthy revealed she is also not returning.

Shepherd says in a statement:

“It’s been seven wonderful years on The View and after careful consideration it is time for me to move on. I am extremely grateful to Barbara Walters and Bill Gedde for giving me the opportunity. I look forward to the business opportunities that lay ahead for me and I am incredibly grateful to my View family and my fans for supporting me on this journey.”

A source close to the situation tells Gossip Cop that ABC and the TV personality could not reach a new contract deal after protracted negotiations.

Shepherd, previously best known as an actress and comedienne, joined the morning talk show in 2007.